Bradford-based supermarket giant Morrisons was not commenting today following reports that the company was facing a £9 billion takeover approach.

Private equity groups were reported to be eyeing up the company, triggering speculation that an offer could be made.

No approach has yet come in, although it was reported banks had been consulted over whether they would be willing to fund a deal.

The news comes soon after the company unveiled its new yellow and green logo and new slogans last month.

A Morrisons' spokesman said the company would not comment over the speculation but said it was no secret Sir Ken Morrison was looking to retire next year.

His family owns 15.5 per cent of the FTSE 100 company.

His fortune has soared in the last year. He is now the 35th richest person in the UK and the second richest in Yorkshire, with a personal worth of £1.595 billion - up from £997 million.